Aquila’s SART gains Lloyd’s coverholder status

Aquila’s SART gains Lloyd’s coverholder status

Aquila’s SART gains Lloyd’s coverholder status

SART Specialty, the Hong Kong managing general agent (MGA) that was established in 2008 and is a member company of London’s Aquila Underwriting, has received approval as a Lloyd’s coverholder, according to reports. SART Specialty will underwrite specialist marine business lines, including marine hull, marine cargo, ports and terminals liabilities, and other marine liabilities across Asia-Pacific. Jude Yeung, who joined…

Supply chain a strategic risk

Supply chain a strategic risk

Supply chain a strategic risk

 With business interruption cited as the number one risk by risk professionals the world over in the annual Allianz Risk Barometer for four consecutive years, it is no wonder supply chain risk remains high on the risk agenda. Commercial Risk Africa recently held a one-day forum in Johannesburg, together with the Global Transport Asset Intelligence Bureau, as Liz Booth reports…

Insured risks escalating  as supply chains grow  in complexity

Insured risks escalating as supply chains grow in complexity

Insured risks escalating  as supply chains grow  in complexity

  Increased incidence of natural disasters and accumulation of risk have pushed up global insured losses Supply chain is a global issue. More than 80% of the world’s goods are transported by sea, whether that is the raw commodity or the finished article. While Sub Saharan Africa may not be the biggest region in terms of imports, it is often…

Risk managers and supply chain must work together

Risk managers and supply chain must work together

Risk managers and supply chain must work together

Better communication within organisations can mitigate the issues of supply chain risk, delegates at Commercial Risk Africa’s recent supply chain event in South Africa heard   The breakdown of any supply chain causes a major threat to every business along the route but, too often, separate parts of the organisation are not communicating fully, ultimately increasing that risk significantly. As…

Global programmes: Marine risks and how to manage them

Global programmes: Marine risks and how to manage them

Global programmes: Marine risks and how to manage them

Marine insurance is one of the oldest classes of business. But while the market retains many traditions, and many risks are perennial, new, emerging risks, and evolving risks, are posing challenges for risk managers. Marine is by its very nature a global business and global insurance programmes can help risk managers to get a handle on these complex and international…

Piracy attacks increase in first quarter 2017

Piracy attacks increase in first quarter 2017

Piracy attacks increase in first quarter 2017

Marine piracy increased in the first quarter of this year compared to the same period of 2016, as piracy hotspots continued off Nigeria and around the southern Philippines, according to statistics from the ICC International Maritime Bureau (IMB). Piracy and armed robbers targeted a total of 43 ships in the first quarter of 2017, up from 37 incidents during the…

AGCS opens S Korea office as Asia expansion continues

AGCS opens S Korea office as Asia expansion continues

AGCS opens S Korea office as Asia expansion continues

Allianz Global Corporate & Specialty (AGCS), the corporate and specialty arm of the German insurer, has opened a new office in South Korea. The office opening means that AGCS is the first foreign insurer to be granted regulatory approval by the South Korea Financial Services Commission to operate with a local insurance license, claims AGCS. It will cover a variety…

Big data and new markets will be key disruptors in transport sector

Big data and new markets will be key disruptors in transport sector

Big data and new markets will be key disruptors in transport sector

Some 43% of transport sector respondents believe big data will be the most significant driver of change, according to an annual survey from Norton Rose Fulbright. The eighth edition of The way ahead transport report reveals that 90% of aviation and 86% of rail respondents are positive about market conditions, compared with 64% and 37% in logistics and shipping respectively.…

New models to help insurers with clash risks

New models to help insurers with clash risks

New models to help insurers with clash risks

Catastrophe modelling firm Risk Management Solutions (RMS) and the Cambridge Centre for Risk Studies (CRS) are developing tools to help insurers standardise exposure data and model clash risks. CRS is creating a set of exposure standards for risks that are currently not well modelled by insurers. These standards could help bring consistency to information supplied by corporate buyers, as well…

HDI Global opens Bern office

HDI Global opens Bern office

HDI Global opens Bern office

HDI Global has opened a third branch office in Switzerland. The industrial insurance company said its new Bern office is part of plans for international growth targeting key business regions. Hans Mazenauer, manager of HDI Global SE’s Swiss branch office, said: “Bern is Federal City and also the centre of one of Switzerland’s most important economic regions. In future, this…

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